BANHAM FOUNDATION LIMITED an No: 07325044) Chari No.. 1141423 (A company limit8d by guarantee) ANN AL BANHAM FOUNDATION LIMITED CONTENTS PA Reference and Administrative Delai18 Report of the Tru8188S 2to3 Trustees, Responsibilities in relation to the Financial Slalements 4 Independent Exarnin8r's Report 5t06 Statement of Financial Activities Balance Sheet statement of Cash Flows Notes to the Financial Statement3 10t015 PAGE 1 BANHAM FOUNDATION LIMITED REFERENCE AND ADMINISTRATIVE DETAILS Trustees J Banham LQ Banham WF Banham R Banham G Bramwell MJ Hallatt M Herbert J Keightley SL Lews T Ward FL Banham rinci Ioffi 20 Thornsett Road London SW18 4EF Coman R 07325044 ra hari 1141423 nde endenl Examiner Russell Joseph FCA Bourner Bullock Chartered Accountants 114 St Martin's Lane Covent Garden London WC2 4BE PAGE 2 BANHAM FOUNDATION LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees who are directors for the purposes of company law, present the annual report together with the financial stslements of the charitsble company for the year ended 31 December 2024. The accounts have prepared in accordance wth the accounting policies set out in note 1 to the 8ccounls and comply wf(h the Charity's deed. the Chartties Acl 2011 and "Accounting and Reporting by Chariti8s.' Statement of Recommended Practice applicable to charities preparing their accounts in accordance wlh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (2nd Edition, effective January 2019)" Trustees Mr T Ward Mrs L Q Banham Ms J Banham Mr WF Banham Ms R Banham Mr S Barry {Resign8d 22 January 20251 Ms G Bramwell Ms M J Hallatt Ms M Herbert Mr J Keightley Mrs S L Lews Ms FL 8anham (Appointed 22 January 2025) structure, governance and managemènt N81ure of goveming document The charrtable company is constituted under its Memorandum of Association dated 23 July 2010. R8cruilm8nt and 8ppoinlment ol trustees The power to appoint new trustees rests wth the exSsting trustees of the charlty. Induct￿n and training of trustees On appoinlmenl, the decision making process of the charfty Is explained to new trustees by one of the existing Trustee5 who also provide an overview of the adrnini5trative procedures employed by the Foundation. Objectives and actlvltles PublK Benefit The charity provide5 funding to other Brit15h Tegistered charitie5. The tTU5tse5 confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. PAGE 3 BANHAM FOUNDATION LIMITED REP RT OF THE TRUS ES Contin ed FOR THE YEAR ENDED 31 DECEMBER 2024 Gr8nt-m8king pOl￿￿S Currently the Trustees, policy is to accumulate all written appeals received and to consider them on their individual merils at each Trustee meeting. Applicants are notified of the Trustees, decision. The us8 of volunteers The charity has no paid staff, however administration is provided on a voluntary and pro-bono basis by the Banham Group. Achlevements and perfom)anco The charity's objects are raising and collecting money and donations to charities registered with the Commission or any successor regulators. In line vilh these objects, during the year the charity gave grants to other British charities. Excess of expenditure over income in 2024 was £285,365 12023.. excess of expenditure over income was £179.3091. The fund balance at 31 December 2024 was £2,723,444 (2023., £3,008,809). Plans for fulure perlod• Aims and key obJectiv8s for futur8 periods The chanty will continue to provide funding to other 8ritish registered charities in future periods. The Trustees shall hold the Funds upon trust to apply donations to such charitsble bodies or institutions at such times and in such manner as the Trustees may, ID their absolute discretion, think frt, wthin the remit of the charills objects. Risks The Trustees have not Idenllfied any major rlsks and they ￿11 continue to monitor the adequacy of their system. Reserves poI￿Y The Charity is a grant-making company and its income-generating assets are therefore held as cash deposits. The Trustees apply the income derived to giving grants in accordance wth the objects of the company. In any given year. a surplus or deficit on net resources will arise., its size, whelher surplus or deficit, will fluctuate and be largely dependent on the tirning of donations received and grant payments made. As its income is liable to flvctuation each year, the Trustees are concerned that sufficient reserves are retained to ensure il can meet the objectives of the Charity for a minimum of trwelve months ahead. 2024.. Unrestricted £2,623,444, Restricted £100,000 (2023.. Unrestricted £2,908,809., Restricted £100,000> PAGE 4 BANHAM FOUNDATION LIMITED STATEMENT OF TRUSTEE'S RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees {who are also the directors for the purpose of company law) are responsible for preparing Ihe Annual Report and the financial statem8nts in accordance wlh applicable law and regulations. Company law requires the charity Iruslees to prepare financial statement for each financial year. Under the law the trustees must piepare the financial statements in accordance with United Kingdom Generally A¢￿pIed Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the trustees musl not approve the financial statements unless they are sat15fied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of r850urces, including the Income and expenditure. of the charitable company for that period. In preparing these financial 5talemenls, the truste85 are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principle5 In the Charities SORP.. make judgements and accounting estimates that are reasonable and prudent., slate whether applicable UK Accounting Standards have been followed. subj'ect to any material departures disclosed and explained in the financial statements., and prepare the financial statements on the going concem basis unless It is inappropriate to presume Ihat the charrtable company wll continue lo operate. b) dl The trustee5 are responsible for keeping proper accounting records that are sufficient to show and explain the charitable company's transactions and disclose wth reasonable accuraw at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets ol the charity and the group and hence taking the reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the trustees of the charity on and signed on tts behalf by.. Mr T Ward Trustee PAGE 5 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BANHAM FOUNDATION LIMITED report to the trustees (who are also Directors for the purpose of company law) on my examination of the financial statements of the Banham Foundation Limf(ed I'the charitable company,) for the year ended 31 December 2024 which comprise the Statement of Financial Activilies, the Balance Sheet, the Statement of Cash Flows and related notes. This report 15 made solely to the charity's Iruslees, as a body, in accord8nce with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity's trustees those matters l am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body. for my work, for this report, or for the opinions I have formed. Responslbllltles and bas18 of report As the trustees of the charitable company you are responsible for the preparation of the financial statements in accordance Mlh the requirements of the Companies Act 20061'the 2006 Acl'l. Having satisfied myself that the fin8ncial statements of the ch8rit8ble company are not required to be audited under Part 16 of the Act and are eligible for independent examination, I report in respect of my examination of the charitable company's financial statements carried oul under section 145 of the Chaiilies Act 2011 ('the 2011 Act'> and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145{5)Ibl of the 2011 Act. An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statement5. The planning and conduct ol an audit goes beyond Ihe limited assurance that an independent examination can provide. Consequently l express no opinion as to whether the financial statements present a 'lrue and fair, view and my report is limited to those specific matters Set out in th8 independent examin8¢s stat8ment. PAGE 6 NDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF 8ANHAM FOUNDATION LI ITED ontinued Independent ExamlneV$ Statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charitsble company as required by section 386 of the 2006 Acl.. or the financial statements do nol accord Vlith those records.. or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Acl other than any requirement that the financial statements give a 'true and fair, view which is not a matter considered as part of an independent examination. the financi81 statements have not been prepared in accordance with Ihe methods and principles ol the Slatemenl of Recommended Practice for accounting and reporting by charities preparing their accounts in accordance wlh the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102). I have no concerns and have come across no other matters in connection wth the examination to which attention should be drawn in Ihis report in order to enable a proper understanding of the flnancial statements to be r8ach8d. Russell Joseph FCA Bourner Bullock Chartered Accountants 114 St Martin's Lane Covent Garden London WC2N 4BE Date.. 09.09.2025 PAGE 7 8ANHAM FOUNDATION LIMITED TEMENT OF FINANCIAL ACTIV TIE in nllrture Ac unt OR THE YEAR ENDED 31 DECEMBER 2024 Total Funds 2024 Total Funds 2023 Unreslrfcled Funds Reslrlcted Funds Notes ncome Donalit)n8 and Leg8ues Investment Income 128,966 86,535 128,966 86,535 206.814 50,932 OTAL INCOME 215,501 215,501 257,746 endlt re Charitable Actsvllie$'. 500,866 $00,886 437,055 TAL EXPENDITUR 500,868 500,068 437.055 Net movement funds 1285,3651 1285,365} 1179,3091 8conclllatlon of fund• Total Fund5 8rou9hl Forward 13 2,908,809 100.000 3,008,809 3,168,118 Total Funds Carrfed Fo￿ard 2,623,444 100,000 2,723,444 3,008,809 All of the charitable companys ath'vits'es derive from contsnulng operallons durirvJ the above tsvo penods. PAGE 8 BANHAM FOUNDATION LIMITED BALANCE SHEET FOR THE YEAR ENOED 31 DECEMBER 2024 (Registration number.. 07325044) 24 2023 Cur nt Assets Deblors Cash al Bank and In Hand 10 20,041 2,992,608 2.727,283 2,727,283 3,012,649 Amounts falling due Within One Year 13,840) (3,8401 2,723,443 3,008,809 2,723,443 3,008.809 Restricted Funds Unrestricted Funds 100,000 2.623.444 100,000 2.908,809 2,723.444 3.008.809 For the financial year ending 31 December 2024 the charity wa5 enlrtled to exemption under seclion 477 of the Companies Act 2006 relating lo small companies. No Trustees have required Ihe Company to obtain an 8udit of its accounts IOT the year in question in accordance with section 476. The Tfuslees acknowledge their responsibility for.. lil Ensuring the Company keeps accounting records which comply vilh section 386.. and lill Preparing accounts which give 8 true and fair view of the slate of affairs of the Company as al the end of ils financial year, and of its profil and los$ for the financial year in a¢¢ordan¢e with se￿19n 393, and which otherwise comply vllh the requirements of the Companies Act relatlng lo accounts, so far as applicable to the Company. These accounts have been prepared in accordance with the provisions applicable to companies subject to small companieg, regime within Pt 15 of the Comp8nies Act 20(￿. The financial slatemenls on pages 7 to 15 were approved by Ihe truslees, and aulhorised for issue on 9191 and signed on their b&half by.. Mr T Ward Trustee PAGE 9 BANHAM FOUNDATION LIMITED FOR THE YEAR ENDED 31 DECEMBER 2024 (Reglstr8lion number,. 073250441 Total Fund5 Total Funds 202 Cash flows fmm op•ratlng actlvltl•• Net movemènt in lundB Deduct interest incc•me shown in Investing activitie8 IDecrea8elllncrease in creditors 1285,365) 188,535 1179.3091 150,9321 240 Nel cash uséd in operab'ng oCttvib8s 1371.900) 1230,frJ11 Ci8h flo￿ from Inv•#tlng actlvlti Interest and dlvidends 106,575 30,891 Nel cash wovided by Snve81ing actlvlle8 106,575 30,891 Ca¥h Ilowi from fln•nclng •ctlvltle• Nel cash provided by fingncing activity'es Chang• In cash and ca•h equlvalents In th• year 1285,3251 1199,1101 Cash and cash equivalent brought forward 2.992.608 3,191,718 C••h and c*•h •qulvalonts c•rrl•d forward 2,727.283 2,992,608 PAGE 10 &4NHAM F NDATION LIMITED TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountln Poll¢le3 Summary of slgnlllcanl a¢¢ountlng pollcles and key accountlng estimates The principal accounting policies adopted, judgemenls and key sources of estimatlon uncertainty in the preparation of the financial slalemenls are set out below. These policies have been consistently applied to all years presented unless otherwise stated. Basls of Preparatlon The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance wth the Financial Repoth'ng Standard applicable in the UK and Republic of Ireland (FRS 102112nd Edition. effective January 2019) (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Banham Foundallon Llmited meets the definition of a public benefrt entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless othewse stated in the relevant accounting policy notes. Golng concern At the time of preparing the financial statements the Trustees have a reasonable expectation Ihat the charity has adequate resources lo continue in operational existence for the foreseeable future. Thus the Trustees continue lo adopt the going concern basis of accounting in preparing the financial statemenls. Income Voluntary income includSng donations, gifts, legacies and granls that provlde core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable th8t the income vill be received and the amount can be measured with sufficient reliability. Expendlture All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated lo the applicable expenditure heading th8t aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources. PAGE 11 BANHAM FOUNDATION LIMITEO OTES TO T E FINANC AL STATEMENTS on in YEAR END In P Ilcles contlnued Charltable actlvlties CharilaNe expenditure comprises those costs incurred by the charity In the delviery of 119 advilies and 5eNices for Ils benefidaries. It includes both costs th81 Can be alk)cated directly lo such aclivilie8 and those costs of an indirect nature necessary lo support them. Grant Provl•lons Provisions for grants ore mode whgn the intention to moke a grant has been communicated lo the recipient bul there Is uncartainty about eithèr the liming of the grant or the amount ol grant payabie. Govemance co•t• These include the costs 8llribulable to the charity's compliance with conslilulional and slalulory re9uiremenls, including independent examination, strategic management and Iru81ee8' meetsngs and reimbursed expenses. Taxatlon The charlty Is consldered lo pas8 the lesls sel out in Paragraph 1 Sche(lule 6 of the Financè Act 2010 and therefore it meets the defsnits'on of a charitable company lor UK corporation tax purposes. Accordingly, the charity is exempl from taxation in respect of Income or capital gains received within categorie5 covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Sèclicn 256 of the Taxab'on of Chargeable Gains Act 1992, to the exlenl that such income or gains are applled exclu8ively lo charitable wrp08e8. Flnanclal In•trum•nl• The trust only has financial assets and financial liabilities of a klnd that qualify as basic financial inslrumènls. Basic financial instruments are initially recognised al transaction value and subsequently measured 81 their settlement value with the exception of loans which arè subsequently measured al amort18ed cost U8ing Ihe effective interest method. Debtor• DebtOf8 including 8ccrue